Top Gold Stocks To Watch
In the last year, there has been so many gold stocks to watch. The pandemic caused this sector to increase in value a lot. The gold industry has always been a rather competitive industry. The gold sector is comprised of companies that mine and refine the yellow metal. Some gold companies will focus on acquiring land by itself. If the supply of gold is lower, it causes the price to increase in the market. This is vice versa, so when there is more gold its price could go down. Other gold companies specialize in retailing and dealing the metal. In recent times gold has been able to reach new heights in the market. The price of gold reached a record high price of more than $2,000 per ounce back in 2020.
This was as a result of the pandemic causing the economy to completely crash. Many investors wanted to purchase gold as a more secure investment over the dollar during those times. This continues to this day, with gold prices staying within $1,700 to $1,900 per ounce on average. So what is impacting the price of gold in 2021? Gold prices are being impacted this year by the vaccines that are being given out.
Cases of the COVID virus are falling quickly in the United States. This could have a negative effect on gold. On the other hand, a 1.9 trillion stimulus bill was just passed by the government. Government stimulus often results in the fall of the price of the dollar before the economy is able to recover. Still nobody knows when things will return to normal. For now, let’s look at four gold stocks to watch in March 2021.
Top Gold Stocks To Watch
- Franco-Nevada Corporation (NYSE: FNV)
- Wheaton Precious Metals Corp. (NYSE: WPM)
- Kirkland Lake Gold (NYSE: KL)
- Alamos Gold Inc. (NYSE: AGI)
The first gold stock to watch is Franco-Nevada Corporation. Franco-Nevada is a royalty and stream company with a focus of gold, silver, and platinum group metals. Additionally the company works with gas and energy comprising oil too. Its primary focus for the company is energy and mining. Let’s take a look at what Franco-Nevada Corporation’s recent advancements and market history look like at the moment.
The latest update from Franco Nevada is from February 10th, 2021. The company announced its quarterly dividend on this date. Additionally, FNV announced the details for its upcoming release of its 2020 results. Franco-Nevada announced its board of directors has declared a quarterly dividend of $0.26 per share. This will be paid on March 25th, 2021. Its 2020 results will be released on March 10th after the market close. This could be where we see the next momentum whether good or bad for FNV stock. At the moment, this is what to watch for if you are thinking of investing in Franco-Nevada Corporation.
Wheaton Precious Metals Corp.
Next up on this list of gold stocks to watch is Wheaton Precious Metals Corp. Wheaton is a company that sells gold, silver, and palladium ores to different places. The company’s ores are sold all over the world and in Canada where it is centered. Wheaton currently holds 20 operating mine agreements and 9 developmental stage project agreements. So now let’s see what this gold corporation has been up to in recent market history. Wheaton’s latest update was released on February 10th, 2021. This is when the metal corporation announced that it has exceeded its 2020 production guidance midpoint.
The company also provided a 2021 long term outlook. Randy Smallwood, the President and CEO of the company said, “The benefits and value of a high-quality portfolio of low-cost assets have never been more apparent than in 2020. Despite the numerous challenges posed by the pandemic, our portfolio demonstrated its resiliency with production coming in at the higher end of our guidance range yet again.” In 2021, the company expects its gold production to increase, as a result of growth at its Salobo, San Dimas, and Constancia mines. Silver production is also expected to increase for the company in 2021.
Kirkland Lake Gold
Now let’s talk about Kirkland Lake Gold. Kirkland Lake Gold is a corporation that owns mining claims and land in a variety of places. It explores for different mineral resources at a diverse portfolio of projects. Its main resource searched for at Kirkland Lake’s claims is gold. Its major assets are the Macassa Mine and Fosterville mines located in Canada and Australia. It also has a current agreement with Newmont to run exploration on some of its properties as well. So what has Kirkland Lake Gold been up to in recent market history?
Well, Kirkland Lake just released a very recent report. This report stated its quarter four and fiscal year 2020 results. The company broke records for production levels, revenue, net earnings, and adjusted net earnings. Tony Makuch, the President and CEO of the company said, “2020 will go down as a year that no one will ever forget. Faced with the challenges of a global pandemic, our team rose to the occasion and effectively responded to the COVID-19 virus with there being no transmission of the virus at any of our sites during the year.”
Alamos Gold Inc.
The last but not least gold stock to watch is Alamos Gold Inc. Alamos Gold is an acquisition, exploration, development, and extraction focused gold company. The company actively looks for gold, silver, and other precious metal deposits. Its main project is the Young-Davidson mine, location in Canada totaling 11,000 acres. Let’s see what Alamos has been up to on all of its land.
On February 24th, Alamos Gold reported its fourth quarter and year end 2020 results. Its free cash flow generation of $58 million has allowed it to support a 25% higher dividend increase. Its total production increased in the fourth quarter as well. Alamos expects its production to grow a total 15% in 2021. It will be interesting to see the progress of this gold stock in the future.
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